Senior year transcript

Hello. I've been lurking here for a week or two and finally thought of a question.

I am a senior and will be graduating in Fall of 2009. If I want to apply to a law school for Fall of 2010, I know that I will need to have my application sent out to the law schools before I am finished with my UG degree. My question is this: how does the law school assess your transcripts? Do they wait until they have a complete transcript for your UG course of study, or do they expect you to update them when you graduate in the Spring of the following year (or in my case end of Fall semester of that year)?